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Shell warns weakening economy could slow buybacks

Oct. 31, 2019 8:40 AM ET|About: Royal Dutch Shell plc (RDS.A)|By: , SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) -3% pre-market and trades nearly 4% lower in London despite beating Q3 earnings estimates, as the company warns global economic conditions could slow the timetable for its $25B share buyback program.

“Prevailing weak macroeconomic conditions and challenging outlook inevitably create uncertainty about the pace of reducing gearing to 25% and completing the share buyback program within the 2020 time frame,” CEO Ben van Beurden says.

Gearing – the ratio between debt and market cap – rose in the quarter to 27.9% from 23.1% a year earlier. read more

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Shell’s third-quarter profits fall 15% on lower oil and gas prices

Sam Meredith: 31 Oct 2019

POINTS
  • Net income attributable to shareholders on a current cost of supplies (CCS) basis, used as a proxy for net profit, and excluding identified items, came in at $4.767 billion for the third quarter of 2019.
  • That compared with a profit of $5.624 billion in the same quarter a year ago and $3.462 billion in the second quarter.
  • Shares of the Anglo-Dutch oil company are down more than 1% when compared to the same period in 2018.

Oil giant Royal Dutch Shell reported weaker-than-expected third-quarter net profit on Thursday, citing lower energy prices and chemicals margins.

Net income attributable to shareholders on a current cost of supplies (CCS) basis, used as a proxy for net profit, and excluding identified items, came in at $4.767 billion for the third quarter of 2019. That compared with a profit of $5.624 billion in the same quarter a year ago and $3.462 billion in the second quarter. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Big Oil Investors Bracing for Bad News as Headwinds Gather

Bloomberg News: Kevin Crowley and Kelly Gilblom: October 28, 2019

(Bloomberg) — Slumping energy prices, sluggish global demand and shrinking chemical margins are weighing on the oil industry as its biggest names prepare to announce quarterly results to investors demanding ever-higher payouts.

The so-called supermajors — Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp., Total SA and BP Plc — are expected to disclose a 42% plunge in third-quarter earnings, on average, when they post results this week. That drop-off is too steep to blame on the 18% decline in crude oil prices, which means executives will have some explaining to do. read more

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Why it is hard to be a saint in the city

Why it is hard to be a saint in the city

By Nick Charalambous: Monday, October 28, 2019 – 06:30 AM

Greta Thunberg’s speech at the UN’s Climate Action Summit last month stirred a lot of the world’s views about the environment and this is creeping more and more into our everyday lives.

I saw one headline last week stating that “climate change is the most serious issue for the majority of voters” but notably it added that these same voters are reluctant to meet the cost of tackling the crisis.

As a financial adviser, I must say my experience is that investing and ethics typically don’t go hand in hand. I must, however, add there has noticeably been more of a focus on socially responsible investments (SRI) from my clients in recent times. read more

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Investors turn heat on Big Oil ahead of U.N. climate summit

Simon Jessop, Matthew Green: SEPTEMBER 18, 2019 / 12:05 AM

LONDON (Reuters) – Investors managing $15 trillion in assets turned up the heat on oil and gas sector on Wednesday ahead of a United Nations summit in New York aimed at accelerating efforts to fight climate change.

Energy companies are on the front line of the global transition to a low-carbon economy, with investors potentially on the hook for hefty losses if the companies do not overhaul their business models in time.

In its most detailed analysis of the energy sector, the Transition Pathway Initiative (TPI) said 31 out of 109 energy firms were aligned with commitments governments have so far made under the 2015 Paris Agreement to curb greenhouse gas emissions. read more

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Shell Leads Big Oil in the Race to Invest in Clean Energy

By Timothy Abington and Kelly Gilblom: 4 September 2019, 07:00 BST: Updated on 4 September 2019, 11:11 BST

*European majors close many more deals than their U.S. rivals

*Digital and efficiency technologies become popular targets

Major oil companies are poised to do a record number of clean-energy deals this year, with Royal Dutch Shell Plc leading a group of European companies that are well ahead of their U.S. rivals.

The data compiled by BloombergNEF underscore the quickening pace of the transition to low-carbon energy among the world’s largest fossil fuel producers, and the scale of the trans-Atlantic divide. European majors closed seven times as many deals with renewable-electricity and storage companies as their U.S. counterparts since 2010. read more

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Canada LNG project to ship gas to Asia as early as 2024

NEW YORK — A 40 billion Canadian dollar ($30 billion) project in British Columbia led by Royal Dutch Shell is on track to start exporting liquefied natural gas to Asia as early as 2024, having received a significant financial boost from Canada’s federal government.

Ottawa will provide C$275 million in subsidies to help finance the LNG Canada export project, whose partners include Malaysian state-owned oil company Petronas, Japan’s Mitsubishi Corp. and two other Asian energy companies. read more

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Is Shell’s Latest Blockchain Venture A Gamechanger?

By Irina Slav– Jul 11, 2019, 3:00 PM CDT

Shell has furthered its stated commitment to cleaner electricity by investing in a U.S startup that has developed a blockchain-based platform for energy sharing.

The startup, LOW3 Energy, saidin a press release earlier this week that Shell Ventures and Japanese Sumitomo had made “major investments” in its platform, which “represents a landmark moment for LO3 Energy as we begin to scale our blockchain-based energy networks around the world,” according to chief executive Lawrence Orsini. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Oil majors evacuate U.S. Gulf platform staff before storm

JULY 9, 2019 / 10:58 PM

HOUSTON (Reuters) – Major U.S. oil producers on Tuesday began evacuating and shutting in production at their deepwater Gulf of Mexico platforms in advance of a tropical disturbance expected to become a storm this week.

A tropical depression is expected to form late on Wednesday or Thursday, according to the National Hurricane Center, and move westward across the northern Gulf of Mexico, home to dozens of oil and gas producing facilities.

Chevron Corp (CVX.N), Royal Dutch Shell Plc (RDSa.L), BP Plc (BP.L) and BHP (BHP.AX) are removing staff from 15 offshore energy platforms, according to company statements. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell beats profit expectations on strong trading, LNG

Ron Bousso: MAY 2, 2019

LONDON (Reuters) – Royal Dutch Shell reported on Thursday a small drop in first quarter profit to $5.4 billion, but still easily beat forecasts, helped by stronger trading and liquefied natural gas earnings.

Shell’s results outshone those of rivals Exxon Mobil, Chevron and BP which all saw sharp declines in profits in the first three months of the year as a result of lower refining margins and weaker crude and gas prices.

Shell shares were up 1.4 percent shortly after trading opened.

“Shell has made a strong start to 2019,” Chief Executive Officer Ben van Beurden said in a statement.

“Our integrated value chain enabled our Downstream business to deliver robust results despite challenging market conditions.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell in talks to buy BP stake in North Sea gas field: sources

Shell has a 28 percent stake in Shearwater, BP holds 27.5 percent and Exxon Mobil has the remaining 44.5 percent. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Activist group withdraws resolution challenging Shell climate policy

APRIL 7, 2019

LONDON (Reuters) – An activist group said it has withdrawn a shareholder resolution calling on Royal Dutch Shell to change its climate policy after the oil and gas company reached a broad agreement with investors on the issue.

The Anglo-Dutch energy company drew rare praise from investors and environmental activists in December when it set out plans to introduce industry-leading targets to reduce greenhouse gas emissions and link them to executive pay.

Nevertheless, Dutch activist group Follow This tabled several days later a resolution urging Shell to drastically reduce its spending on fossil fuel. read more

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Shell’s stand on climate change meets skepticism from critics and the industry

by Josh Siegel: April 04, 2019 12:00 AM

Shell’s move to leave a trade group because of its climate change position is being met with skepticism from fossil fuel critics and energy producers alike, because Shell remains in other groups that oppose policies to address climate change.

Sen. Sheldon Whitehouse, D-R.I., perhaps the harshest critic of the oil and gas industry, said that Shell’s decision to leave American Fuel & Petrochemical Manufacturers “begs the question as to how Shell justifies continued membership in the much larger lobbying behemoths that spend millions opposing the climate action Shell claims to support.” read more

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Shell ‘most valuable’ global oil and gas brand

Written by

Oil giant Shell has emerged as the world’s “most valuable” oil and gas brand, according to a global brand consultancy group.

Brand valuation and strategy consultancy firm Brand Finance claim Shell has experienced a 7% boost in its brand value in 2019.

It also places the firm as the 26th most valuable across all industries.

Brand Finance value Shell at £32 billion as a consequence of the 7% increase.

Chinese oil and gas firms PetroChina and Sinopec took second and third place with a value of £27bn and £22bn, respectively.

French oil giant Total, UK firm BP and US firm Chevron came in at fourth, fifth and sixth place. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Royal Dutch Shell leading charge back to Gulf of Mexico nine years after region was hit by BP’s Deepwater Horizon oil spill

Royal Dutch Shell is leading the charge back to the Gulf of Mexico nine years after the region was hit by BP’s Deepwater Horizon oil spill.

The Anglo-Dutch business splashed out $84.8 million (£64.7 million) on 87 drilling sites at an auction this month, having made just three bids at the previous auction in August last year.

Shell bosses have placed significant focus on the area in the past six months. At its results in January, the firm revealed production in the area had increased 50 per cent in two years to a peak of 40,000 barrels of oil a day. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Oil Giants Invest $110 Billion In New Fossil Fuels After Spending $1 Billion On Green PR

Exxon Mobil Corp., Royal Dutch Shell, Chevron, Total and BP together have spent more than $1 billion on public relations since the Paris Agreement.

The world’s five largest publicly traded oil companies are increasing their investments in oil and gas, putting a combined $110 billion in new fossil-fuel production.

Meanwhile, those firms are projected to spend just $3.6 billion on low-carbon investments, such as biofuels and renewables, according to a new analysis that Influence Map, a British nonprofit that analyzes corporate influence on climate policy, derived from industry data and numbers buried in company disclosures.

The reckless disparity comes just months after the United Nations warned that the world must rapidly phase out fossil fuel use over the next decade or face catastrophic global warming of at least 2.7 degrees Fahrenheit. read more

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UK carbon capture advisory group to include BP and Shell

Written by

A new UK Government-backed carbon capture advisory group will include representatives from BP and Shell.

Announced by the UK Government today, the group has been formed in an effort to open the first Carbon Capture, Usage and Storage (CCUS) facility in the UK by the mid-2020s.

Energy minister Claire Perry said the group would help ensure the takes “full advantage” in the emerging CCS sector.

The UK Government has backed the group with a £1 million support package.

Energy and infrastructure firms such as BP, Shell, Tata Steel, National Grid, Cadent and Drax are all involved. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell sets its first carbon reduction targets on output, consumption

Shell sets its first carbon reduction targets on output, consumption

Ron Bousso: March 14, 2019 HOUSTON (Reuters) – Royal Dutch Shell said on Thursday it planned to reduce carbon emissions from its oil and gas operations and product sales by 2 percent to 3 percent during the 2016-2021 period, the first time the company has issued carbon footprint targets. The targets, which will be linked to executive pay, aim to cut greenhouse gas emissions from its oil and gas extraction and refining as well for fuels and other products sold to millions of customers, known as Scope 3 emissions.

Rivals BP and Total have already set short-term targets on reducing carbon dioxide emissions, but those planned cuts are limited to their own operations and exclude Scope 3 emissions.

“Early 2019, it was decided to set a Net Carbon Footprint target for 2021 of 2-3 percent lower than our 2016 Net Carbon Footprint of 79 grams of CO2 equivalent per megajoule,” Shell said in its 2018 annual report, which was released on Thursday.

The targets will be linked to the remuneration of around 150 executives in 2019, and expanded to 16,000 employees next year. read more

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Shell Says It Can Be Top Power Producer and Make Money

By Kevin Crowley and Alix Steel: 11 March 2019, 20:09 GMT: Updated on 11 March 2019, 21:38 GMT

Oil major aims to be top power producer by early 2030s

Shell seeks 8-12% returns in historically low margin business

Royal Dutch Shell Plc plans to become the world’s biggest power company despite electricity’s historically narrow margins.

The world’s second-largest oil explorer by market value is spending up to $2 billion a year on its new energies division, mainly to grow in a power sector it envisions delivering 8 percent to 12 percent annual returns, according to Maarten Wetselaar, director of Shell’s integrated gas new energies unit. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell striving to become world’s top power company

Royal Dutch Shell plans to become the world’s biggest power company despite electricity’s historically narrow margins.

Written by

The world’s second-largest oil explorer by market value is spending up to $2 billion a year on its new energies division, mainly to grow in a power sector it envisions delivering 8-12% annual returns, according to Maarten Wetselaar, director of Shell’s integrated gas new energies unit.

“We believe we can be the largest electricity power company in the world in the early 2030s,” Wetselaar said.

“We are not interested in the power business because we like what we saw in the last 20 years.

“We are interested because we think we like what we see in the next 20 years.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Oman, Shell sign interim upstream gas deal

Dubai — Oman and supermajor Shell have signed an interim deal to develop gas acreage in block 6 in 2019, according to an emailed statement from Shell.

The agreement covers investments in oil and gas and resources are to be used for domestic Omani projects. Petroleum Development Oman, Oman Oil Company and Total also signed the deal as partners.

The deal will integrate Shell and Oman Oil’s upstream project with a planned gas-to-liquids plant that Shell and Oman Oil will also co-develop. read more

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Shell, Eni, Exxon among winners in Egypt’s oil and gas exploration tender

Shell, Eni, Exxon among winners in Egypt’s oil and gas exploration tender

FEBRUARY 12, 2019

CAIRO (Reuters) – Royal Dutch Shell, Eni, BP and Exxon Mobil were among winners of Egypt’s international tender for oil and gas exploration on Tuesday, with 12 concessions awarded in total.

It marks Exxon Mobil’s entry into gas exploration in Egypt, while Shell was awarded the most concessions in the tender – three for oil and two for gas.

Neptune Energy, Merlon, Shell, Eni and state-controlled Egyptian General Petroleum Corporation (EGPC) were awarded seven oil exploration concessions in total in which 39 wells will be drilled, Egypt’s petroleum ministry said in a statement. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell wins most blocks in Egypt oil and gas tender; Exxon makes debut

|About: BP p.l.c. (BP)|By: , SA News Editor

Royal Dutch Shell (RDS.A, RDS.B), Eni (NYSE:E), BP and Exxon Mobil (NYSE:XOM) are among the winners of Egypt’s international tender for oil and gas exploration, with 12 concessions awarded in total.

The tender marks XOM’s entry into gas exploration in Egypt, while Shell is awarded the most concessions – three for oil and two for gas.

Egypt expects investments of at least $750M-$800M in the first stage of exploration in the 12 concessions, Petroleum Minister Tarek El Molla says. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Climate groups threaten lawsuit to force Shell to ditch oil

Updated 0832 GMT (1632 HKT) February 12, 2019

London (CNN Business)Climate activists are preparing legal action aimed at forcing Royal Dutch Shell to exit the oil business.

A coalition of environmental groups in the Netherlands said Tuesday that they will hand over a court summons on April 5 if Shell does not change its business model to comply with the Paris climate accord. read more

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Shell open to carmaker partners in EV charging expansion

Shell open to carmaker partners in EV charging expansion

FEBRUARY 1, 2019

STOCKHOLM (Reuters) – Shell is open to partnerships with carmakers to expand electric vehicle (EV) charging beyond its petrol stations, one of the oil major’s executives said on Friday.

As part of efforts to compete with rival BP in the growing EV sector, Shell this week bought U.S. charger provider Greenlots – a supplier for Volvo and Volkswagen’s U.S. subsidiary as well as for utilities and residential sites – for an undisclosed sum. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

U.S. union boss heads to oil contract talks after win for steelworkers

Erwin Seba: JANUARY 16, 2019 / 6:09 AM

HOUSTON (Reuters) – Buoyed by concluding a big pay raise for steel workers last month, a United Steelworkers union top negotiator squares off on Wednesday against oil companies seeking to win a 24 percent wage hike for 30,000 refinery and chemical employees.

The stakes are high for the union and oil industry, which scored big profits last year from refining and chemicals. The talks are the first since 2015 when a stalemate led to rolling strikes that sent more than 7,000 workers off their jobs at 12 U.S. refineries and three chemical plants. read more

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Shell to go ahead with Shearwater gas expansion in North Sea

DECEMBER 10, 2018 / 12:28 PM

LONDON (Reuters) – Royal Dutch Shell said on Monday it would expand the Shearwater gas hub in the British North Sea, its seventh project to get the green light in the aging basin this year.

The project, a joint venture with Exxon Mobil and BP, will include a modification of the Shearwater platform to allow production and processing of wet gas as well as the construction of a 23 mile (37 kilometre) pipeline from the Fulmar Gas Line (FGL) to Shearwater, Shell said in a statement. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

BP, Shell to Face New Shareholder Challenge Over Climate in 2019

  • Dutch group Follow This may also target Exxon Mobil, Chevron
  • Resolutions ask companies to align business with Paris accord

The activists who rankled Royal Dutch Shell Plc by filing climate-change resolutions for three straight years now are targeting other oil majors.

Follow This, a Dutch group that accumulates shares in oil companies in order to press them over greenhouse gas emissions, has filed another resolution against Shell for 2019. It also filed its first resolution against BP Plc and may target Chevron Corp. and Exxon Mobil Corp. in the same way.

The group, led by former journalist Mark van Baal, has been a source of frustration for Shell management, even though its resolutions have gone down to defeat. Van Baal stood up at the Anglo-Dutch supermajor’s May 2018 shareholder meeting and said Shell was misleading its investors by saying it was on track to meet global climate targets, prompting CEO Ben van Beurden to angrily retort that wasn’t the case. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Royal Dutch Shell sees profits jump as oil price rises

1 November 2018

Royal Dutch Shell’s profits surged by 37% in the third quarter of the year on the back of rising oil prices.

The Anglo-Dutch giant said earnings excluding one-off items on a current cost of supply measure (CCS), which strips out price fluctuations, hit $5.6bn (£4.3bn) from $4.1bn last year.

Rising oil and gas prices in the July-to-September period were the main driver of profits.

Shell joins rivals, including BP, in reporting strong results.

However, the figure was lower than a company-provided analysts’ consensus forecast of nearly $5.8bn. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell and BP pumped up by oil prices

Giants amass cash for share buybacks and dividends

The two biggest London-listed oil majors are expected to report higher profits and cash levels this week, driven by rising oil and gas prices as the industry’s recovery continues.

The price of a barrel of Brent crude averaged $75.80 during the third quarter of the year, 45% higher than the same period in 2017, while UK gas prices are up 54% year-on-year.

The rally following the crash that sent prices below $30 a barrel in 2016 is helping companies to repay debt and start rewarding shareholders, even as it pushes up costs for households and motorists. Analysts’ profit forecasts for BP, which reports on Tuesday, averaged $2.8bn (£2.2bn) compared with $1.9bn during the same quarter last year. read more

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National Gallery loses Shell funding after protests

Shell’s sponsorship prompted protests at the National GalleryCORBIS/GETTY IMAGES

Another oil company has pulled out of a sponsorship deal with a British cultural institution after years of protests.

Shell’s withdrawal from a deal with the National Gallery follows that of BP from Tate and other organisations.

Shell said that its decision to end the 12-year agreement, thought to have been worth about £500,000 over that period, would allow it to focus on work to “inspire the next generation of engineers” through science, technology, engineering and mathematics programmes. read more

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Shell, BP go separate ways as Washington voters consider fee on greenhouse-gas polluters

Royal Dutch Shell opts to sit on the sidelines while BP shovels money into opposing Initiative 1631.

 Seattle Times staff reporter: September 30, 2018 

In speeches, reports and online posts, BP and Royal Dutch Shell leaders proclaim support for government rules that put a price on greenhouse-gas pollution resulting from the combustion of oil, natural gas and coal.

But as Washington voters head toward a November vote on an initiative to impose a carbon fee on fossil fuels, the two oil giants have gone their separate ways.

Shell, which operates the state’s second largest refinery, in Anacortes, has opted to sit on the sidelines of what has emerged as one of the most expensive initiative battles in Washington history. If approved, Initiative 1631 could serve as a model for other states. read more

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Shell to handle contract negotiations for U.S. refinery industry

SEPTEMBER 27, 2018 / 7:54 PM /

HOUSTON (Reuters) – Royal Dutch Shell Plc said on Thursday it looks forward to handling industry negotiations on a national contract covering 30,000 U.S. refinery and chemical plant workers represented by the United Steelworkers union (USW).

The talks begin formally in January and Shell, which has represented its peers since 1997, is lead negotiator on behalf of companies including BP, Chevron Corp, Exxon Mobil Corp and others.

The refining industry this year has enjoyed strong profits, near-full utilization rates and record product exports. In the June quarter, the margin on turning crude to gasoline, diesel and other products was the highest since 2015. read more

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Scoop: Shell sits out Washington carbon fight

Harder: 26 Sept 2018

Royal Dutch Shell is sitting out a multi-million dollar fight over a carbon fee proposal in Washington state even as nearly all other oil companies with operations there rally to oppose it.

Why it matters: It’s a sign of the oil industry’s uneven, years-long evolution toward supporting policies that put a price on carbon emissions. And whether Washington State voters support the initiative, which is on the state-wide ballot this Election Day, will be a bellwether for other attempts at big climate policy. read more

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Oil industry group pledges to cut methane emissions

By: , SA News Editor

  • The Oil and Gas Climate Initiative, which U.S. giants Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) joined just last week, commits to cutting methane emissions to an intensity of 0.25% of all fossil fuel the group of 13 member companies produces by 2025.
  • The pledge could be cut further to 0.2% intensity, which would echo targets set individually by group members BP, Royal Dutch Shell (RDS.A, RDS.B) and XOM to reduce methane emissions.
  • “Our aim is to work towards near zero methane emissions from the full gas value chain in support of achieving the goals of the Paris [Climate] Agreement,” the heads of the OGCI members say.
  • The OGCI represents nearly a third of global oil and gas production and also includes France’s Total (NYSE:TOT) as well as national oil companies of China, Mexico, Brazil and Saudi Arabia.
  • read more

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    Shell targets lower methane emissions from oil and gas operations

    Shell targets lower methane emissions from oil and gas operations

    Ron Bousso: Sept 17, 2018 LONDON (Reuters) – Royal Dutch Shell announced on Monday plans to limit leaks of methane, a potent greenhouse gas, across its oil and gas operations as it tries to sharply curb carbon emissions.   Shell aims to maintain methane emissions below 0.2 percent of its total oil and gas production by 2025, it said in a statement, joining British rival BP, which last year set a similar goal. Larger rival Exxon Mobil announced in May plans to reduce methane emissions by 15 percent by 2020.

    Methane is released into the atmosphere mostly from the burning of excess gas, known as flaring, as well as through leaks in gas infrastructure such as wells, pumps and pipelines.

    The gas has a bigger greenhouse impact than carbon dioxide, even though the oil and gas industry produces less methane and the gas also has a shorter lifetime.

    The methane target will be measured against a baseline leak rate, which is currently estimated at range from 0.01 percent to 0.8 percent across the company’s oil and gas assets, it said. read more

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    African Oil Hunt Returns as Majors Seek to Tap Vast Reserves

    By Paul Burkhardt: 5 September 2018, 00:01 BST: Updated on 5 September 2018, 14:31 BST

    • Rigs drilling in Africa’s waters have hit a two-year high

    • Companies including Exxon, Shell, BP have accumulated acreages

    Africa is entering the oil-hunt spotlight as drillers, flush with cash after crude’s recovery, are turning their attention back to the continent’s potentially vast resources.

    The world’s biggest companies from Exxon Mobil Corp. to Royal Dutch Shell Plc and BP Plc are setting up camp across Africa. Armed with stronger balance sheets and higher crude prices the industry is on track to double drilling in African waters this year. Rising natural gas demand is adding to the attraction. read more

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    Big Oil’s LNG Obsession

    By Vanand Meliksetian – Sep 04, 2018, 3:00 PM CDT

    Since the early days of the oil and gas industry, a group of Western companies has dominated the industry. These companies have been named ‘Big Oil’ due to the size of their global footprint. Despite their technological superiority and significant access to capital, these organizations are now facing difficulties in maintaining market share and profitability. Changing requirements concerning fuel types as well as an increasing focus on environmental impacts have transformed the global energy market. Inevitably, these companies have been forced to change their strategy to remain relevant to customers. read more

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    ExxonMobil Oil Reserves Trump Shell’s But Its $305B Revenue Beats That Of U.S. Rival

    Gaurav Sharma: 

    For ExxonMobil (NYSE:XOM) shareholders much of the current trading has felt decidedly lackluster. Upon the conclusion of the recent earnings season, most commentators agreed that neither it nor its Anglo-Dutch rival Shell (LON:RDSA) managed to captivate the market’s imagination.

    Instead, that accolade went to BP (LON:BP) with its quadrupling of quarterly profits and a $10.5 billion signature acquisition of U.S. shale assets. Furthermore, an examination of annualized financials suggests Shell’s revenue, at $305.2 billion in 2017, capped that of ExxonMobil at $237.1 billion by some distance, even though the latter’s profits and market capitalization exceed that of its rival. read more

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    Shell sponsorship deal with Amsterdam’s Van Gogh Museum ends

    MARTIN BAILEY: 

    Two of the major Dutch museums have just ended their collaboration with Shell, at a time of mounting protests over sponsorship by fossil fuel companies. Amsterdam’s Van Gogh Museum and the Mauritshuis in The Hague both terminated arrangements with the country’s largest oil and gas firm this summer.

    A Mauritshuis spokesman says that it had a six-year partnership contract with Shell, which was due to end in July and was not renewed. Surprisingly, however, the latest annual report of the Mauritshuis states that support from Shell Nederland and two other partners is “crucial for the long-term future of the museum”. Shell has also been supporting technical research on paintings by Jan Steen, but this work is almost complete and is due to be published by the end of the year. read more

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    Will Royal Dutch Shell Follow Its Peers And Raise Its Dividend?

    Aristofanis Papadatos: 25 August 2018

    Summary

    • Royal Dutch Shell has not cut its dividend since World War II and is currently offering a 5.6% dividend yield.
    • The oil major has frozen its dividend for 18 consecutive quarters.
    • The big question is whether it will raise its dividend amid excessive free cash flows and a brightening outlook of the oil sector.

    Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) is an oil giant that has benefited from the rally of the oil price in the last 12 months, just like its peers. However, the oil major has paid the same dividend for 18 consecutive quarters, as it froze its dividend at the onset of the downturn of the oil market that began in 2014. Therefore, the big question is whether the company will raise its dividend in the upcoming quarters.

    Dividend record

    Despite the downturn that began in 2014, Exxon Mobil (XOM), Chevron (CVX) and Total (TOT) have continued to raise their dividends, albeit at a low single-digit rate. BP (BP) followed the same path as Shell and froze its dividend for 15 consecutive quarters, but eventually raised it in the running quarter, thanks to the strength of the oil price and the brightening outlook of the oil market. Therefore, Shell is the only oil major that has kept its dividend flat for such a long period. read more

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    Oil Major and Miner Ethics Scrutinized by Methodist Investors

    By Elizabeth Burden and Thomas Biesheuvel
    15 August 2018, 08:54 BST

    *Methodist fund developing system analyzing company ethics
    *Top mining and oil companies will be graded by end of 2018

    Divestment may be too blunt an instrument to encourage the world’s biggest oil and mining companies to behave ethically: the Methodist Church is prepared to back those committed to mending their ways.

    While the precise workings of its new “traffic light system” are still being debated, the Central Finance Board of the Methodist Church plans to determine by the end of the year whether BP Plc, Royal Dutch Shell Plc, Total SA and Equinor ASA have the ethical credentials to merit continued investor support. Those preferences will be denoted by red, amber and green categories, which will reflect a firm’s efforts and commitment to reducing greenhouse gas emissions, its asset mix, capital expenditure, climate strategy and governance. read more

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    Oil majors win dismissal of New York City climate lawsuit

    Shell, Exxon and ConocoPhillips all said they were pleased with the court ruling.

    Brendan Pierson: JULY 19, 2018

    NEW YORK (Reuters) – A U.S. judge on Thursday dismissed a lawsuit by New York City seeking to hold major oil companies liable for climate change caused by carbon emissions from burning fossil fuels.

    In dismissing the city’s claims against Chevron Corp (CVX.N), BP Plc (BP.L), ConocoPhillips (COP.N), Exxon Mobil Corp (XOM.N) and Royal Dutch Shell Plc (RDSa.L), U.S. District Judge John Keenan in Manhattan said climate change must be addressed through federal regulation and foreign policy. read more

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    Not dead yet: Home of Brent crude gets new lease of life

    Ron Bousso, Shadia Nasralla: JULY 18, 2018

    LONDON (Reuters) – Oil giant BP’s Eastern Trough Area Project off the coast of Scotland wasn’t supposed to be viable beyond 2018.

    But government and industry working together have given ETAP a new lease of life that is being closely watched by countries and companies eyeing other ageing projects around the world.

    When ETAP was launched 20 years ago today, some experts predicted the UK sector of the North Sea would cease most production by 2030. read more

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    Big Oil’s Next Major Move

    By Tim Daiss – Jul 08, 2018, 10:00 AM CDT

    Several oil majors, including Royal Dutch Shell and BP, are boosting their share of natural gas output. A Bloomberg report said these two oil companies, by increasing gas production, are trimming the lead between them and ExxonMobil, the world’s largest publicly traded oil company. ExxonMobil has a current market cap of $348 bn, while Shell has market cap of $317 bn, and BP at $156 bn.

    BP expects by 2020 to produce about 60 percent gas and 40 percent oil, a reversal from 2014 when it was the opposite – a pivot that many other oil companies will likely follow. ExxonMobil for its part currently produces about 55 percent oil and 45 percent gas and remains the largest natural gas producer in the US. Shell’s acquisition of UK-based BG Group for $50 bn in 2016 boosted the share of natural gas to 50 percent of its global fossil fuels output and made it the world’s largest natural gas trader. read more

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    Church of England to withdraw funds from polluting firms that fail to tackle climate change

    8 JULY 2018 • 7:00PM

    The Church of England is to withdraw funds from polluting firms that fail to tackle climate change.

    Companies including Shell and BP could face disinvestment from the church within five years if they do not fall in line with strict environmental measures.

    Its General Synod, meeting this weekend in York, voted to bring in the timetable to put more pressure on companies which fail to meet the aims of the Paris climate accords.

    The church pulled £12m in funds out of assets such as coal and tar sands oil following another Synod vote in 2015, but is still an investor in major fossil fuels companies.

    The church’s pension fund, worth £2bn, is understood to be in deficit, but a spokesman said it was on track to remove it.

    The decision came after the church was slammed by one of its bishops for failing to move with sufficient urgency. read more

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    $US150 a barrel? Shareholder greed could make oil prices double

    By Ben Sharples: Bloomberg News: 7 July 2018

    Oil investors may regret urging companies to cough up cash now instead of investing in growth for later as the dearth of exploration is setting the stage for an unprecedented crude price spike, according to Sanford C. Bernstein.

    Companies have been compelled to focus on boosting returns and shareholder distributions at the expense of capital expenditures aimed at finding new supplies, analysts including Neil Beveridge wrote in a note on Friday. read more

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    Shell CEO says ‘foolhardy’ to set carbon reduction targets

    Shell CEO says ‘foolhardy’ to set carbon reduction targets

    Ron Bousso: JULY 5, 2018

    LONDON (Reuters) – Royal Dutch Shell’s boss said it would be “foolhardy” for the oil and gas producer to set hard targets to reduce carbon emissions as it risked exposing the energy giant to legal challenges.

    The energy industry has struggled in recent years to find a clear path to secure its role as the world shifts from fossil fuels in order to meet the 2015 Paris climate agreement goals.

    Shell Chief Executive Officer Ben van Beurden last year set out ambitions last year to halve its carbon emissions by 2050, far exceeding rivals. But the Dutch CEO resisted calls by activists and some investors to set binding targets. read more

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    Big Oil, Utilities are Lining Up for an Electric Vehicle War

    Big Oil, Utilities are Lining Up for an Electric Vehicle War

    By Kelly Gilblom and Anna Hirtenstein2 July 2018, 05:00 BST

    • BP and Shell have bought electric-car charging companies
    • Power utilities are boosting sales to homes, chargers on roads

    A red-hot electric vehicle market has triggered a face-off between Big Oil and utilities.

    Oil majors, who’ve sold fossil fuels to cars for a century, are now moving into an electricity sector that’s preparing for exponential growth. The problem is that utilities, the primary power suppliers for a century, have the same idea.

    BP Plc predicts electric vehicle sales will surge by an eye-watering 8,800 percent between 2017 and 2040, making it an attractive business for oil companies as demand for gasoline and diesel are forecast to slow. Big Oil will have to battle the traditional utilities for charging at people’s homes, on the road and even offices of green-car owners. read more

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